1. LME price rises to the $2,700-2,750 per mton multi-month technical resistance zone as market awaits additional Chinese economic stimulus.
LME Cash aluminum prices closed today at a two-week high of $… per mton, up 1.6% or $… per mton from yesterday. Meanwhile, LME 3M aluminum prices settled at $… per mton, up 1.4% from yesterday, after…
2. China’s aluminum prices rise toward three-month highs on stimulus expectations.
SHFE front-month aluminum prices closed today’s session up 1.0% at… yuan per mton, after testing a three-month high of… yuan per mton…
3. LME March-April backwardation holds at $… per mton (bearish P1020 premiums).
The Cash-3M backwardation widened to $… per mton from yesterday’s one-week low of $… per mton. The Cash-March contango narrowed to $…